Audio Audio: Simpson proposes tax credit for businesses that rehire workers

Audio: Simpson proposes tax credit for businesses that rehire workers

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We can’t just keep laying off people and cutting the budget. We have to do something to get people back to work.
– Senate Democrat Leader Vi Simpson

Today State Senator Vi Simpson offered a proposal in response to the small businesses who have told her that they would like to hire back those employees, but they are afraid to take the risk if the work slows again.

Simpson’s proposal would establish a reemployment tax credit for businesses rehiring laid off workers. The tax credit would be equal to 10 percent of an individual worker’s salary up to $7,000 per year for businesses rehiring employees. The potential cost of the tax credit would be paid by an existing fund now used for training.

Simpson said the proposal is modest, but it has the potential to put as many as 2,000 Hoosiers back to work. The amendment was defeated by the Senate.

Listen to Sen. Simpson’s comments from the Senate floor today: